Author: Freelancing Buzz

Getty getty The UK has a problem. Bloomberg called it a crisis of low participation in the workforce. It’s the worst in over 20 years and author Tom Rees described it this way: According to a new Resolution Foundation report on the UK’s post-pandemic labor force participation, “An exodus of rich professionals from jobs is driving Britain’s crisis of low participation in the labor market, according to new research that lays bare the challenge of plugging widespread worker shortages.” “The Resolution Foundation found that a jump in people taking early retirement disproportionately comes from highly-paid workers over age 50, making it more difficult to persuade the group to return to work.” According to the data, 60% of the older professionals who retired own their home outright, which they posit has reduced retiree interest in taking up a job. The report mentioned, “Labor market returns by older workers are rare and get rarer as time since exit passes,” the report said. “These facts suggest that returns to the labor market by the ‘Covid cohort’ of early retirees will be relatively rare and, most importantly, insensitive to policy changes.” These are professionals that, according to the Resolution Foundation, the UK economy can’t afford to lose for two important reasons. They are highly skilled, and are highly paid for their expertise. But wait. Isn’t there a more optimistic approach to considering these data? Why hasn’t the report considered the potential for these recently retired professionals to remain in the work force part-time, participating in a part- or full-time post-retirement side-gig. There are, in fact, a wide variety of ways that retired professionals can continue to contribute and earn an attractive addition to their retirement funds, as a part-time consultant, interim manager, educator, influencer, and the list goes on. Age isn’t a serious barrier to many forms of freelancing. The Global Survey on Freelancing found that 20% of the freelancers participating in their survey were over 50 years of age. These individuals generally reported satisfaction with their freelance work, and the additional income it provided. The American Enterprise Institute recently published the results of their June American Perspectives Survey . They found that 20 percent of retired Americans were not fully retired. Instead, they are opting to extend their careers through gig economy jobs. As the report pointed out: “Continuing to work after official retirement is not new, of course. Retired workers have long engaged in bridge jobs , such as part-time consulting, before departing completely from the workforce. Gig work, however, is different. Platforms like FlexJobs and Thumbtack are actively marketing themselves to older retirees, offering flexible work as tutors, rental hosts, pet-sitters, and rideshare drivers — a reflection of how internet-based gig work is helping to fill labor market shortages in the American economy.” A study of part-time freelancers found that independent professionals tend to take side-gigs when they are available, rather than when they have financial needs. They do so to take advantage of the extra income, as well as […]

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GrapeImages / Getty Images The freelance wave is here, and millions of people are getting on board. For instance, the number of freelancers in America increased from an estimated 53 million in 2014 to 59 million in 2020. People decide to freelance for many reasons: lower commuting costs, increased flexibility, work-life balance, poor local job market, etc. Some freelancers even make more money than they made while working full-time. Find Out: Do You Really Need To Keep Your Emergency Fund Separate From Your Savings Account? See: With a Recession Looming, Make These 3 Retirement Moves To Stay On Track While there are reasons aplenty to freelance, the transition isn’t always easy. Freelancing comes with responsibilities that aren’t in the picture for full-time workers. Here are some things you must do to ensure a seamless transition from full-time work to freelancing . Identify Your Skills and Services Before you even start freelancing, you must determine your skills and what you will offer as a freelancer. It may seem obvious, but people sometimes switch to freelancing when they hear about its perks. But freelancing is a business, and in order to thrive, you must identify what sets you apart from other freelancers. The best place to start is often with the skills you’ve learned at your full-time job. For example, if you are a registered nurse, you might decide to become a freelance healthcare writer. If you work full-time as a graphic or web designer, you can do those jobs as a freelancer. Once you have identified your skills, you should research the market. Find out if there is demand for your skills, and if so, assess the rates. If there is demand at rates that suit you, then you might have a viable business as a freelancer. Set Up and Manage Your Finances Whether you work full-time or freelance, money is important — but freelancers have more to consider. This is because if you are a self-employed freelancer, you are the employee and technically the employer as well. That means managing the finances for both sides of the equation. These are just a few financial tasks you will have as a freelancer. One could also mention health insurance here, as most Americans have health insurance through work. You can enroll in a or buy private insurance as a freelancer. Unfortunately, these plans are often more expensive than you had while working full-time. This article originally appeared on :

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Kiwis / Getty Images/iStockphoto The post-pandemic shift toward remote work and freelancing created a flood of independent contractors searching for banks that served their unique needs — and the industry responded. Over the last few years, financial institutions have introduced exciting new mixed-use accounts that let sole proprietors manage their personal and business finances all under one roof. See the List: GOBankingRates’ Best Banks of 2023 Experts: Here’s How Much You Should Have in Your Checking Account The problem now is that all those new arrivals make it hard to find the best of the bunch. Instead of consulting financial pros or banking industry reps to identify the cream of the crop, GOBankingRates got the real story from the people who know more about the subject than anyone else — actual freelancers who have tried all the options while surviving alone in the financial trenches. Here’s what they said. For Nomadic Freelancers, Schwab Makes Every ATM a Free ATM One of the best accounts for freelancers isn’t a trendy new upstart that exists only on a computer screen, but an industry standard-bearer with decades of history and global name recognition. Tom Eskey, founder of GarageGymRevisited.com , first opened his Charles Schwab checking account nine years ago, and he thinks the rise of remote work and the gig economy have only solidified its standing as his No. 1 pick for freelancers like him. “When I first started working online, I took the nomadic plunge that a lot of freelancers take,” Eskey said. “In a completely new city and state, I would have to drive close to half an hour to find an ATM for my old bank.” He chose Schwab because it supported the cash-on-the-go lifestyle of a work-from-anywhere freelancer. “The account continues to offer fully refundable ATM fees for every ATM in the world,” said Eskey, who also noted that it’s a fee-free account with no balance minimums or foreign transaction fees. It even pays a modest interest yield. Perry Zheng, founder and CEO of the real estate investment software firm , recommends a newer player that debuted as a digital bank in 2019. Moses Aremu, head of marketing at , also recommends Grasshopper for established freelancers, but he urges new arrivals to unify their financial services under one roof with a close competitor. Shawn Hill, owner of , turned his cooking passion into a freelance profession — and he joined several other independent contractors in recommending Bluevine business checking as a can’t-go-wrong account for the self-employed.

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This is a newly created role to support the UK business with the process for the engagement of freelancers across the business. The Freelancer Coordinator will sit within HR but work across HR, Finance and Legal. They will be expected to ensure Company policy and process is followed in the engagement of freelancers (including putting in place contractual documentation with the freelancer), and also to keep up to date on IR35 legislation and applicable Employment Law to ensure the freelancer process is compliant with all applicable legislation. They will also be required to assist HR in their reporting obligations in respect of freelancers. The role The Freelancer Coordinator will be responsible for providing admin support to: Monitor the Freelance registration inbox; Manage freelance documentation and contractual documents on behalf of the business; including, but not limited to, ensuring deal memo from business is accurate and complete, completing freelancer contracts based on deal memo and completing the HMRC CEST test; Work collaboratively with HR (authorisation), Finance (invoicing) and Legal (contract/contract clauses) to ensure freelancer documentation is thoroughly checked and correct before the start of the work; Send freelance documents out for signing (to freelancer and engaging business sponsor) Send Status Determination Statements and New supplier form link to freelancers; Send all signed documents back to Business to upload in Focal Point Manage communications and liaise with internal teams and with freelancers; Represent the business in answering queries from the freelancers, re-directing internally as appropriate; Provide reporting (Focal Point) as and when required; Monitor HMRC CEST test renewal dates; Constantly monitor and assess the freelancer process and documentation to ensure compliance and recommend changes to process and/or documents (if/ when necessary); and Ensure internal guidance for the business is kept up to date. Knowledge, skills and experience Knowledge of IR35 and Employment Law Proven experience of negotiating and finalising contractual documentation Proven admin experience Focal Point experience (an advantage, however training will be given) Excellent verbal and written communication skills Excellent time management skills with the ability to multitask and work to tight deadlines Comfortable in problem-solving and relationship building Team-oriented with a self-starter attitude Good IT skills incl. MS Office suite Additional information The role is a full-time permanent position The role is based at our London office 50 Bedford Square, London, WC1B 3DP on a hybrid working pattern of 2 days office based / 3 days home based (or fully office based if preferred). Allocated office days for this role are: to be confirmed Please apply with a CV and covering letter addressed to Human Resources (Word or PDF format only) via the ‘APPLY NOW’ button detailing how you meet the requirements outlined above for this role by Wednesday 8th March 2023. Bloomsbury reserve the right to close the role early if we exceed the required number of applications Bloomsbury Benefits As well as a fantastic opportunity to join a global award-winning organisation, Bloomsbury offers the following competitive benefits package: Working Pattern hybrid working pattern of: 2 days office […]

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The average side hustle will bring in around $473 a month. A recent study by Freelancer.com that analyzed data from 372,000 jobs posted on the platform between Oct. 1 and Dec. 31, 2022, and ranked programming, report-writing, and research-related jobs among the fastest growing skills on the platform. “We have employers turning to freelancers for content jobs, such as writing and research projects, all the way to highly complex jobs like mathematics, programming, and engineering. The trend that we continue to see is the surge in tech-related projects as a result of global tech layoffs,” said Matt Barrie, chief executive at Freelancer.com, in a statement. 5 side hustles with the potential to pay over $20,000 extra each year If you’re on the hunt for a new side gig that you can do from home, freelancing platform Upwork has compiled a list of some of the most popular freelancing jobs on its site. According to Upwork, the following can earn you at least $20,000 a year for 15 hours of work per week. Let’s say you earn $30 an hour as a writer, work 15 hours a week, and work 48 out of 52 weeks in a year (to account for four weeks of holidays and vacation). That would mean you’d work 720 hours total in a year and would make around $21,600 total before taxes ($30 x 720). Experts say that if you’re already using these kinds of skills at your nine-to-five, it may be worth exploring side jobs that allow you to flex those muscles even more. “Many companies do not have the budget to hire a full-time employee but could use your help a few hours each week,” says Emily Casey Rassam , senior financial planner at Archer Investment Management . Consider a second job utilizing your expertise and experience from your primary career. Reach out to target companies and offer your time and services. They might not have listed a position, not knowing you exist.” What to consider before taking on a side hustle There are several factors to consider before you choose a side hustle—apart from potential earnings. Even if you’re only working a few extra hours a week, you don’t want to find yourself in a position that leads to burnout or causes unnecessary stress. Your hobbies, passions, and existing skill set can work to your benefit You can use your side hustle to explore a passion or hobby that doesn’t have to do with your day job, but if nothing piques your interest, you can also use some of the skills you use at your regular job to make extra money on the side. This could also be an opportunity to build up your résumé with experiences from outside companies. Time management is key, so choose a side hustle that won’t lead to burnout Your side hustle will inevitably eat into your free time, so aim to set a designated time for side hustle work as well as time to rest and recharge. […]

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5 Ways Freelancers Can Improve Their Financial Health 1 The gig economy continues to gain much popularity despite eased COVID-19 pandemic restrictions. Nowadays, more people are adopting freelancing and prefer remote-focused employment. However, when you’re a freelancer, income irregularities are very common. You can bring in more work than you can handle for some weeks. Then for other weeks, your pipeline can go down to a trickle. If you’re planning to be self-employed, here are some financial tips you should consider. Separate Work and Personal Bank Accounts Separating your personal from your business accounts comes with a lot of benefits. It helps you establish credibility. Clients will see it more professionally if they make payments to your business account instead of your personal account. It also protects your personal assets should your freelance business go down south. Additionally, it makes tracking cash flow more manageable. It lets you gauge the seasonality of your different income streams, helping you to budget well. Not only liquidities, but it also helps you with your tax liabilities and tax returns. Since your finances are separated, you won’t have to slog through which transactions expenses are personal or from your business. So when tax season comes, bookkeeping will be so much easier. Experts recommend having at least four separate bank accounts to manage your finances better. These include personal checking, personal savings, business checking, and tax accounts. You can always add more banking accounts depending on your needs and wants. For example, you can have a dedicated account for emergency funds or travel savings. Establish A Budget Setting a budget for your business helps you in many ways . You get a better idea of where your money goes, whether you’re overspending or underspending, what expenses need to be cut out, and how much income you need. Overall, it helps you plan what you can and cannot do with your business. A straightforward way to manage your freelancing income is through a zero-budget technique. With this budget approach, you’ll have to develop a new budget from scratch every time you get your income, hence the name “zero.” Its main benefit is that it keeps your spending low. It’s flexible enough to manage the unexpected and irregular income of freelancers. Upskill As a freelancer, your skill sets are your milking cow. The more skills you have, the higher your freelancing power. Hence, keep upskilling. As the workplace and trends evolve, it helps you remain productive, competitive, and desirable. Further, in a very competitive job market, it gives you an edge over other fellow freelancers. Remember that you’re the only person responsible for improving professional career growth and moving up the ladder. Hence, keep building up your profile and learn more new skills. To do so, you can take online courses, keep up with the latest industry trends, and take part in networking events. Build Emergency Funds In freelancing, you don’t get paid if you don’t have work. Even worse, clients take a while to pay […]

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Working as a freelancer can be a tough racket. In addition to the unpredictability of your earnings, you’ll miss out on certain benefits that a major employer can offer, such as health insurance . On the plus side, the IRS views freelancers as business owners. This means you can take advantage of a whole slew of tax deductions that you may think are only reserved for major corporations. Here are some of the most important tax deductions you may be entitled to as a self-employed individual, including a few that may be surprising to you . Business Loan Interest Interest you pay on money you borrow for business expenses is tax-deductible. Perhaps surprisingly, this also applies to business expenses you put on a credit card. It can make your life a lot easier at tax time if you use a specific business credit card and keep your personal expenses physically separated. However, as long as you can identify which purchases and interest apply specifically to your business, you can claim a tax deduction. Home Office Deduction If you’re a full-time worker and you use a private room in your home for your business, you can obviously claim a home office deduction for that portion of your house. However, even if you simply work a few hours a week in your garage as a side gig , you may be able to claim the home office deduction as well. Just remember that you must identify a specific area of your home that is used strictly for business purposes and limit your deduction to that area only. Self-Employed Health Insurance Premiums If you’re a freelancer and don’t work for another company, you likely have to pay your own health insurance premiums. While this is certainly one of the downsides of life as a freelancer, at least there’s a tax break waiting for you. The IRS allows freelancers to deduct all of their self-employed health insurance premiums, including any you may pay for your family members. Business Use of a Vehicle Depending on the type of work you do, you likely drive your car at least some of the time for work purposes. This means that you use your vehicle for business, allowing you to take tax deductions on everything from your oil and gas expenses to maintenance costs and even the miles that you drive. Bear in mind, however, that your deduction is limited to the percentage use that can be allocated to your business use only. Business Use of a Phone You may not think that talking on the phone can provide tax benefits, but if you’re a freelancer it certainly can. The cost of your phone, your mobile service plan and any insurance or related costs can be written off if you use that phone for your business. As with other expenses, though, your deduction is limited to the percentage of business use that you get out of your phone. For example, if you use your phone 30% of […]

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The world of work has undergone a major transformation in recent years, with remote work becoming increasingly popular as individuals seek more flexibility in their professional lives. The benefits of working remotely are numerous, including the ability to work from anywhere in the world, avoid the stress of a daily commute, and have more control over your work schedule. However, finding remote work opportunities can be challenging, especially if you’re unsure where to look. That’s where this article comes in. We looked over the web and set up a list of the top 20 must-visit websites for finding remote jobs. You might be a seasoned professional looking for a new challenge, a recent graduate searching for your first job, or a stay-at-home parent seeking to balance work and family life. Irrespective of your experience level, these websites will provide you with a wealth of remote job opportunities to choose from. So let’s get started. JustRemote Among the top online destinations for finding remote work is JustRemote, a specialized job recruitment platform that connects job seekers with global brands that offer remote work opportunities. On this platform, you can submit your resume to be featured by potential employers or apply directly to available remote positions through their job boards. With a vast selection of job openings, you’ll find opportunities related to writing, social media, SEO, sales, project management, marketing, design, programming, and more. If you’re seeking a startup opportunity, then Wellfound is the platform where the world of startups converges. This platform connects job seekers with potential employers, particularly those interested in working with startups. Wellfound categorizes job postings by type and industry, making it easier to see what’s available in your field. LinkedIn is an excellent resource for finding remote jobs. It is the world’s largest professional networking platform, and many employers use LinkedIn to advertise job openings and connect with potential candidates. Create a professional profile that showcases your skills, experience, and achievements, then apply for remote job postings that match your interests and qualifications. Facebook groups can be an effective way to find remote or freelance work. Look for Facebook groups related to your industry, location, or job type. Joining groups with members in your desired field can help you connect with potential employers or colleagues. Keep an eye out for job postings in the group, and be sure to check them regularly. Reddit Reddit has various communities or subreddits dedicated to job postings, career advice, and job search tips. Some popular subreddits where you can find remote job opportunities include r/RemoteJobs, r/forhire, r/Jobbit, r/DigitalNomad, and r/WorkOnline. You can start by subscribing to these subreddits and regularly checking for new job postings that match your skills and experience. Working Nomads Working Nomads is a dynamic job platform that goes beyond merely posting remote job openings on its job board. By subscribing to their mailing list, Working Nomads will curate personalized lists of available job openings in various fields. Just sign up on their platform, and Working Nomads […]

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Many agencies rely on freelance help to complete client work faster and for less money than it would cost to hire in-house talent. From large campaigns with many moving parts to one-off, last-minute projects, freelance talent can help pick up the slack in many areas. But getting everyone on the same page when people outside the agency are working on a project is often easier said than done. Whether an agency is temporarily understaffed or wants to bring contractors in to work with its internal teams on a consistent basis, it’s critical for agency leaders to ensure all parties understand timelines, deliverables and other expectations. Below, members of Forbes Agency Council share their best tips for making sure freelancers understand the goals of the agency and the specifics of the projects they’ve been assigned. Members listed from left to right. Photos courtesy of the individual members. 1. Take A Two-Pronged Approach First, lay out in writing the exact project requirements—including expectations, deadlines, resources, spokespersons and outlines—and provide any other documents or background info they might need. Second, schedule a quick phone call where they can ask questions and clarify the assignment. This two-pronged approach goes a long way toward ensuring goals and deadlines are met and both sides are happy. – Valerie Chan , Plat4orm PR 2. Treat Freelancers Like Teammates The key to building strong bonds with freelancers is to treat them as if they are already on your team. Include them in project meetings up front. Have a written scope of work that details the assignment, the deadlines and who the rest of the team members are. Make room in the schedule for edits, rewrites and so forth. In essence, make everyone in the process accountable—not just the freelancer. – Leeza Hoyt , The Hoyt Organization, Inc. 3. Have Clarity Have a statement of work written for your freelancers. Be up front with your expectations. I urge agencies to have a trial period, as much of this industry is sink or swim; if freelancers don’t comply or fit in with your team’s work ethic, you can have that conversation. – Jessica Kopach , The JKO Agency Forbes Agency Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify? 4. Create A Starter Pack And A Clear Brief Create a starter pack and a clear brief for contractors. A company culture should not only be for permanent employees. Everyone who comes through the door should be up to date on the goals, processes and vision of the agency. I advise agencies to create a clear onboarding plan for contractors that brings them up to speed on the vision you are working toward as a team. – Anastasia Cecchetto , Ace Influencers 5. Properly Define And Explain Tasks Provide a detailed brief or a task that has been properly defined and explained by the manager responsible for the project. Freelancers and contractors are just as interested in getting […]

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Readers like you help support MUO. When you make a purchase using links on our site, we may earn an affiliate commission. Read More. One major hurdle for every freelancer is payment processing. The payment platform you use must meet your financial requirements and be convenient for your clients. With numerous payment methods available, freelancers have to consider various factors to make this decision. In this article, we will take Payoneer as a case study, discussing the advantages and disadvantages of the payment method. In the process, you can evaluate if Payoneer is right for you by considering its transaction charges, global reach, processing speed, and multiple currency options. What Is Payoneer? Payoneer is a fintech services company that provides online money transfer and e-commerce payment solutions. It allows businesses and individuals to send and receive payments in various currencies, including USD, EUR, and GBP. Payoneer is one of the best alternative payment methods freelancers use to receive payments from clients worldwide. As such, it’s safe to say it presents numerous benefits to its users. However, while it offers several advantages, there are also some disadvantages to using it. Advantages of Using Payoneer as a Freelancer Freelancers enjoy many benefits using Payoneer, which makes the platform a viable option in the freelance market. These benefits include: 1. Payoneer Is Widely-Known With a Large Global Reach Payoneer allows freelancers to receive payments from clients in over 200 countries and territories. This makes it an excellent option for those who work with clients from all over the world. Suppose a freelance graphic designer based in the US who works with clients in Europe, Asia, and South America. They can use Payoneer to receive payments in their local currency without needing conversion. 2. Payoneer Has Cheaper Transaction Fees Compared to Alternatives Payoneer charges relatively low fees for transactions, which can benefit freelancers who receive a high volume of payments. Payoneer charges range from 2% to a flat rate of 1.5 USD, GBP, or EUR for most withdrawals. Invariably, a freelance writer who receives payments from multiple clients every month can save a considerable amount of money on transaction fees by using Payoneer. 3. Payoneer Provide Multiple Transaction Currency Options Payoneer allows transactions in multiple currencies, which can be helpful for those who work with clients in different countries. Freelancers working with clients in Japan, Germany, and Mexico can use Payoneer to receive payments in Yen, Euro, and Peso and avoid currency conversion costs. 4. Payoneer Resolve Disputes Faster Payoneer has a dedicated team that reviews disputes and works to resolve them as quickly as possible. This can benefit freelancers who need to resolve client disputes and get paid as soon as possible. Additionally, Payoneer has a dispute resolution process that is easy to use and understand, which makes it simple for freelancers to file a dispute and get it resolved. This feature is a lifesaver for freelancers who have been scammed or have payment issues with their clients. 5. Payoneer Is Easy […]

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